Quote:
Originally Posted by harshmehta
boy i surely made a bad deal ... but now i am confused if i trade in a car, get a lease , and transfer it, what will happen to my credit score... whatever i get next, i'll get extremely high APR...
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Unless this is the largest singular debt you have, it's unlikely that your score will be affected by changing cars mid-lease. That said you got approved for this lease, and the credit score is updated on a 30 day basis. If you haven't missed any payment thus far, you'll probably be approved by BMW for a trade-in or something. You're still the guy they loaned a Z4 to for two years.
I would recommend going back to the dealer. See if you can't work it so your payment stays the same and you get into a more practical 3 or 5 series. New 328 sounds cool. $700+/month for a 3 is outrageous, maybe you could get less without having to put any additional monies down?
Keep in mind, summer is coming. It's much easier for that dealer to unload a Z4 now than in 6 months. And with the dearth of available used cars on the market, they might be anxious for something to push at weekend and sale customers.